12/1/2011 - Flood insurance program given short-term extension
Once again avoiding a government shutdown, lawmakers recently passed a short-term extension of the nation's federal flood insurance program.
On November 17, one day before the National Flood Insurance Program was scheduled to expire, Congress passed a resolution that will fund the NFIP until December 16. The President then signed it before the deadline.
Praising congressional leaders for passing the measure was Tom Santos, vice president of federal affairs at the American Insurance Association, but he cautioned that something more permanent needs to be done and quickly.
"This will be the third short-term extension in as many months," said Santos. "More certainty is needed and as such, AIA encourages Congress to pass a long-term extension with meaningful reforms that aim to strengthen the program."
Also urging swift action regarding flood insurance reform was the vice president of federal government relations for the Property Casualty Insurers Association of America, Tom Litjen.